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Tinergy Chemical Directors Approve 5.46 Billion-Yuan Iron Phosphate Facility

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Tinergy Chemical Co. (SHE:002145) directors approved the investment and construction of an iron phosphate production facility for 5.46 billion yuan, according to a Wednesday filing with the Shenzhen bourse.

The 600,000-ton-per-year facility is set to produce a key precursor material for lithium iron phosphate and sodium iron phosphate batteries. Phase 1 of the project will have a capacity of 400,000 tons, while the second phase will be able to produce 200,000 tons.

Gansu Dongfang Titanium Industry will construct the facility, the company said in its filing.

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Tinergy Chemical Directors Approve 5.46 Billion-Yuan Iron Phosphate Facility | FINWIRES